MCX shares close up 2.56% after block deal

Mumbai, Dec. 9 -- Shares of Multi Commodity Exchange of India Ltd (MCX) on Friday surged as much as 9% after the scrip witnessed a block deal in morning trade.
The stock opened at Rs1,295.45 a share and touched a high of Rs1,411.40, a level last seen on 3 October. The stock gained for the fourth consecutive session and rose 17.9% in this period. So far this year, it has gained 46.9%.
Though MCX shares traded as high as Rs 1,411 (8.95% up) during the day, the scrip closed only 2.56% higher at Rs1,328.65 against the previous session's closing of Rs 1,295.45. During the session on Friday, the scrip fluctuated between the high and low of Rs 1,411 and Rs 1,270, respectively, during the session on Friday.
2.4 million shares of MCX changed hands in a single block deal. Details of the buyers and sellers were not available, according to a Bloomberg report. According to ET Now TV, private equity firm Blackstone Group Lp has sold its entire 4.7% stake in the company via a block deal. The deal was valued around at Rs300 crore. The stake has been picked up by UK-registered fund house Pictet Group, the report added.
Published by HT Syndication with permission from MINT.